M: Marketing
5th Edition
ISBN: 9781259446290
Author: Dhruv Grewal Professor, Michael Levy
Publisher: McGraw-Hill Education
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Question
Chapter 5.4, Problem 1CY
Summary Introduction
To determine: The six key macro-environmental factors.
Introduction: Real outside and uncontrollable factors that impact an association's basic leadership, and influence its execution and procedures. These variables incorporate the financial, socio-economics, legitimate, political, and social conditions, innovative changes, and characteristics power is termed as macro-environment.
Expert Solution & Answer
Answer to Problem 1CY
The six key macro-environmental factors are culture, demographic, political/ legal, social, economic and technology.
Explanation of Solution
Following are the six-macro-environmental factors are discussed below:
- Culture: The test for advertisers is to have items or administrations identifiable by and pertinent to a specific gathering of individuals. Different societies impact what, why, how, where, and when the consumer purchase. Two measurements of culture that advertisers must consider as the company build up the promoting procedures are the way of life of the nation and that of a district inside a nation.
- Political/legal: The companies must understand various laws and legislation, in order to obey with any regulation dealing with the consumer protection, fair competition or industry-specific regulation.
- Economic: The general economic situation prevailing in the home country as well as abroad is analyzed as it will influence the buying pattern of the consumer.
- Demographic: Demographics indicate the human populations and segments, especially the consumer markets.
- Social: By keeping in mind the consumer’s health and wellness as well as the privacy concerns, consumer’s value can be shaped.
- Technology: The value is added to the product by improving the quality of the goods and services.
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Week 9 Discussion: Intercultural Communication
Write a 200 - 300 word discussion post based on the prompt below. Reply to at least one other student in 50 - 100 words.
Describe a time in which cultural norms and expectations and prevented clear communication. What have you learned from the
experience? How can we be more accepting and inclusive of other cultures?
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You will be presented with a situation showing the details of how a company is currently working, a manufacturing plant with various stand-alone computers and printers, and you will research and determine the best configuration to help the manufacturing plant network their computers and include connections to the Internet for all computers. You will need to explain and support the decisions and be able to explain how the changes will benefit the manufacturing plant, including describing how the changes will be managed and implemented.
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M: Marketing
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